Uncovering Institutional Buying In Precipio Inc. (NASDAQ: PRPO)

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    Morgan Stanley & Co. LLC recently announced the acquisition of new stake in Precipio Inc. (NASDAQ:PRPO). The institutional investor has increased its shareholding in the Healthcare company by 0.03% to 25000.0 shares with purchase of 7.0 shares. This fresh investment now brings its stake to 0.17% valued currently at $78500.0. In addition, UBS Securities LLC raised its holdings by 757.0 to 757.0 shares.

    With over 1.38 million Precipio Inc. (PRPO) shares trading Friday and a closing price of $2.41 on the day, the dollar volume was approximately $3.33 million. The shares have shown a negative weekly performance of -23.97% and its price on 08/21/20 lost nearly -11.40%. Currently, there are 16.43M common shares owned by the public and among those 16.22M shares have been available to trade.

    An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for PRPO have a consensus price objective of $2.00. The analysts have set the share’s price value over the next 12 months at a high of $2.00 and a low of $2.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Precipio Inc. stock is 2.00 for the next 12 months. The average price target is 41.93% above its last price level and an upside to the estimated low will see the stock lose -20.5% over that period. But an upside of -20.5% will see the stock hit the forecast high price target while mean target price for the stock is $2.00.

    Insiders at the company have transacted a total of 7 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 7 of these insider trades were purchases, accounting for 6,853 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.

    The top 3 mutual fund holders in Precipio Inc. are Vanguard Extended Market Index Fu, Fidelity Extended Market Index Fu, and Fidelity Total Market Index Fund. Vanguard Extended Market Index Fu owns 78152.0 shares of the company’s stock, all valued at over $0.25 million. Fidelity Total Market Index Fund now owns shares totaling to 0.07% of the shares outstanding.

    Shares of Precipio Inc. (NASDAQ: PRPO) opened at $2.60, down -$0.12 from a prior closing price of $2.72. However, the script later closed the day at $2.41, down -11.40%. The company’s stock has a 5-day price change of -23.97% and 167.78% over the past three months. PRPO shares are trading 17.56% year to date (YTD), with the 12-month market performance down to -11.40% lower. It has a 12-month low price of $0.55 and touched a high of $8.00 over the same period. Currently, 1.38 million shares have been traded, compared to an average intraday trading volume of 4.12 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -19.56%, 22.57%, and 53.50% respectively.

    Institutional ownership of Precipio Inc. (NASDAQ: PRPO) shares accounts for 0.80% of the company’s 16.43M shares outstanding. Mutual fund holders own 0.76%, while other institutional holders and individual stakeholders account for 1.39% and 0.16% respectively.

    It has a market capitalization of $44.71M and a beta (3y monthly) value of 3.12. The earnings-per-share (ttm) stands at -$1.79. Price movements for the stock have been influenced by the stock’s volatility, which stands at 23.04% over the week and 45.40% over the month.

    Analysts forecast that Precipio Inc. (PRPO) will achieve an EPS of -$0.2 for the current quarter, -$0.09 for the next quarter and -$0.31 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.2 while analysts give the company a high EPS estimate of -$0.2. Comparatively, EPS for the current quarter was -$0.31 a year ago. Earnings per share for the fiscal year are expected to increase by 83.20%, and 70.80% over the next financial year. EPS should shrink at an annualized rate of 20.00% over the next five years, compared to 68.20% over the past 5-year period.

    If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate Precipio Inc. (PRPO) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 0 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”

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